South Korea and Bulgaria have agreed to boost cooperation in infrastructure development, Yonhap News Agency has said.

According to Yonhap's report, this paves the way "for South Korea to make inroads into the East European country's infrastructure projects".

During Bulgarian President Rosen Plevneliev's three-day visit to South Korea (May 12-13), he also witnessed alongside counterpart Park Geun-hye the signing of 3 memorandums on understanding urging cooperation in defense, science and technology.

A joint economic committee including representatives from both countries was scheduled to take place for the first time in October in Sofia.

In an earlier interview with Yonhap, he opined South Korea should boost investment into Bulgaria since the southeastern European nation is the "front door" to the EU.

South Korea is the world's 14th biggest economy and is still growing at a stable pace, with an estimated three-percent increase of GDP last year.